The Ensign Group Inc. (Nasdaq: ENSG) announced acquisitions of two skilled nursing facilities (SNFs) on Monday. TriState Health and Rehabilitation Center, a 116-bed skilled nursing facility, is located in Harrogate, Tennessee. In a parallel transaction on the same day, Ensign also bought Hearthstone Health and Rehabilitation, a 125-bed skilled nursing facility located in Sparks, Nevada, […]
Senior Living Investment Brokerage
Tryko Partners continues to expand its New Jersey skilled nursing portfolio after acquiring two facilities from one of the state’s largest health systems. Purchased from Virtua Health, the two facilities will be renamed Berlin Rehabilitation & Healthcare Center and Mount Holly Rehabilitation & Healthcare Center, according to a news release announcing the deal. The standalone […]
Vincennes, Ind.-based skilled nursing facility GentleCare of Vincennes was sold to The Strategies, an Indiana based owner/operator with other communities in the state, Senior Living Investment Brokerage announced. The 60 licensed bed, with 52 currently functional, facility reportedly has one of the longest running five-star designations in the state, according to SLIB. The seller, a […]
Blueprint announced the sale of three skilled nursing and long-term care facilities in Mississippi totaling 340 licensed beds to DAC Acquisitions, LLC. The portfolio’s owner, a New York-based investment firm, put the facilities up for sale after the operator filed for bankruptcy. Overall census declined throughout the pandemic but leveled out in late 2021 at […]
Senior Living Investment Brokerage announced the sale of Cla-Cliff Nursing and Rehabilitation Center, a 116-bed facility in Brinkley, Ark. The facility was owned and operated within the same family for nearly 60 years, but ultimately the seller was looking to retire and exit the sector. The buyer is a regional owner looking to expand its […]
CareTrust REIT (NASDAQ: CTRE) is growing in Illinois after acquiring the Imboden Creek Living Center, Gardens and Villas campus in Decatur, Ill. this month. CareTrust’s initial investment in the facility, inclusive of capital expenditure commitments and transaction costs, was roughly $13.1 million. The campus includes 95 licensed skilled nursing beds, 46 assisted living units and […]
Evans Senior Investments announced the sale of a 186-bed SNF in Indiana for $25 million or $134,000 per bed. The facility had historically been at 85% occupancy or above, but was not profitable at the time of marketing with census dropping to 72%. It was the seller’s only skilled nursing facility. The facility had a […]
Blueprint announced the sale of a large skilled nursing portfolio in Ohio this week for $145 million or roughly $73,000 per bed. The portfolio consists of over 2,000 skilled nursing beds spread across 17 facilities in the state. Originally purchased in 2018 by a joint venture between an experienced investor and a growing Ohio-based operator, […]
CIBC Bank USA closed $20.2 million in acquisition financing for two facilities in central Ohio. The facilities included 199 skilled nursing and 27 assisted living beds. The bank also provided a $2 million revolving line of credit that will be used to support the post-acquisition working needs of the facilities. In the Ohio deal, the […]
New York City-based health care lender and asset manager MONTICELLOAM, LLC late last year announced it provided $89 million in debt financing for the refinancing of 10 skilled nursing facilities and one assisted living facility. The facilities consist of a total of 1,188 beds in California, Colorado and Iowa. SLIB Helps Sell Two Pennsylvania SNFs […]
VIUM Capital closed multiple skilled nursing deals recently including a $21,250,000 acquisition loan for a Wisconsin-based continuing care retirement community and a $58 acquisition loan for a Michigan portfolio of five SNFs and one assisted living facility. The CRCC, Bria of Trinity, was purchased using bridge-to-HUD funding for a buyer looking to grow their presence […]
Although it’s been difficult to bring consistent data to the table, dealmaking in the skilled nursing space continues to be lucrative for both the buyer and seller. Matthew Alley, managing director at Senior Living Investment Brokerage (SLIB), says SNF market data from 2020 and 2021 will be considered ‘outliers’ in a few years, but that’s […]
National commercial real estate company Greystone provided $25,100,000 in bridge acquisition financing for a 582-bed seven-property portfolio in Missouri. The loan is interest only for the first two years and includes floating rate bridge financing. It features a 36-month term with two six-month extension options. Managing Directors Eric Rosenstock and Fred Levine originated the loan […]
Specialty investment bank Ziegler announced it closed $91,910,000 Series 2021A, Series 2021B and 2021C bonds for a Washington not-for-profit corporation that owns and operates a continuing care retirement community in Tacoma, Wash. The bonds will be used to fund an expansion project that will include the construction of 91 new independent living units, a new […]
Cambridge Realty Capital Companies announced last month that it provided a $12,722,300 Department of Housing and Urban Development lean loan to refinance a 249-bed skilled nursing facility in Cicero, Ill. The facility, Alden Town Manor, offers a wide range of health care services and programs, including orthopedic, cardiac, pulmonary and stroke rehabilitation, as well as […]
Specialty investment bank Ziegler announced it closed on $58,240,000 Series 2021A, Series 2021B and 2021 taxable loan for a James City County, Va.-based continuing care retirement community. The community consists of 181 independent living units, 14 assisted living units, 18 memory support units and 22 skilled nursing beds and sits on a 105-acre campus. Virginia […]
Senior Living Investment Brokerage Sells Skilled Nursing Facility Azalea Gardens Senior Living Investment Brokerage, a leader in the senior housing transaction market, recently announced it facilitated the sale of Azalea Gardens at $11 million. The 170-bed and 137 operational bed skilled nursing community is located in Mobile, Alabama, and remains in a long-term lease with […]
Oxford Finance LLC announced the closing of a $9.5 million senior credit facility and revolving line of credit to AB Asset Management LLC and Vitalogy Property Holdings LLC to finance the acquisition of two skilled nursing facilities in Wisconsin with 158 beds in total. To acquire the properties, Vitalogy formed a partnership with AB Asset […]
Walker & Dunlop last week announced the closure of $25 million in Department of Housing & Urban Development-backed financing for a skilled nursing and supportive living facility. The Bethesda, Md.-based real estate finance firm provided $10.7 million in financing for the 106-bed Landmark of Laurel Creek, a skilled nursing facility in Manchester, Ky. The property, […]
Sabra Health Care REIT (Nasdaq: SBRA) late last week announced the sale of two facilities operated by publicly traded skilled nursing giant Genesis HealthCare (NYSE: GEN). The Irvine, Calif.-based real estate investment trust (REIT) sold the properties, both located in Montana, to an undisclosed buyer for a total price of $14.4 million — which included […]
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